. >> coming up, only hours left for leaders in washington to reach a compromise. some officials say there is hope. >> happy new year to people in australia and asia. >> hugo chavez remained in a hospital in cuba as his condition worsens. captioned by the national captioning institute --www.ncicap.org-- >> as the midnight deadline for agreement on a budget deal approaches quickly, it looks like u.s. lawmakers may have put together is stopgap agreement. some details are emerging as sources close say the talks have been centering on staving off the worst of $600 billion in spending cuts. the president had this to say. >> the potential agreement would make sure it taxes do not go up on middle-class families but it would also extend tax credits for families with children, extend the tuition tax credit that has helped millions of families pay for college, and it would extend tax credits. >> lawmakers were also narrowing the income level at which they would increase to between $400,000.50 under thousand dollars. no deal is reached, taxes will go up for all americans. >>